The euro has remained weak against the US dollar during the European trading session, with sellers moving the pair to a new weekly trading-low, at 1.1909. Dip-buying in the EURUSD pair has so far remained quite muted, with price only managing a shallow bounce towards the 1.1937 level before sellers moved in again. Traders now look for further losses below the 1.1900 level, and the release of key monthly Retail Sales numbers from the US economy.
The EURUSD pair is intraday bearish while trading below the 1.1938 level, further downside towards 1.1900 and 1.1852 remains likely.
If the EURUSD pair moves above the 1.1938 resistance level, buyers may be encouraged to test towards the 1.1967 and 1.1996 levels.
